Matthews™ Closes LA Fitness in Phoenix for $9.5M

Fitness Center Spans 45,000 Square Feet in Ahwatukee Submarket

 

PHOENIX — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $9,500,000 sale of an LA Fitness located at 4836 E Chandler Blvd, Phoenix, AZ. Matthews™ represented the seller.

 

Located in the Ahwatukee submarket of Phoenix, the retail building is positioned on a 5.13-acre lot with 45,000 square feet of leasable area, built in 2002.

 

“The seller had owned the property for 20 years, and their intentions for selling were to mitigate their risk and diversify their equity by exchanging into multiple properties,” Matthews™ said. “We created a competitive bidding environment that resulted in finding a buyer with the highest price and most competitive closing terms.”

 

LA Fitness has operated at this location for 18 years, with its lease term running through 2025.

 

“The buyer has plans to cash flow the property,” Matthews™ said. “If the tenant were ever to leave, they have their own concept they can backfill the space with.”

 

For more information or to contact a Matthews™ specialized agent, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 600 agents and support staff in 20+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.